This three-unit mixed-use building in the heart of Lakeview at 2965 N. Lincoln Ave. is comprised of a ground-floor commercial space, one three-bedroom unit and one one-bedroom plus den apartment. It sold for $700,000.
The apartments were recently rehabbed and feature granite countertops, stainless steel appliances, individual furnaces and updated bathrooms. The restaurant BistroDre’, owned and operated by acclaimed chef Andre’ Christopher, occupies the commercial space.
“This property provides a stable investment in a popular location,” said Matt Jones, managing director of Kiser Group, who represented both buyer and seller in the transaction. “Bistro Dre’ has been at this location since 2012 and has three years remaining on its lease, with options after that. Also, the property had at an attractive 8.4 percent cap rate at list price.”